The Credit Manager is responsible for the delivery of high quality, ongoing operation of the credit and collections processes, applied to customers in a range of geographic territories. This role will be responsible for proposing changes and improvements to the existing Credit Risk & Collection Strategy and rolling out processes and procedures which are aligned to the existing S&N Control framework.
The Credit Manager will work with a cross-functional stakeholder base (Finance, Commercial & Legal) to improve process and resolve issues to ensuring that the target Day-Sales-Outstanding is met. The role will design appropriate governance structures to minimise bad debt exposure to S&N over the credit management process (including monitoring & management of credit limit balances, blocked order releases and annual credit limit re-approvals) and the Collection Strategy in conjunction with delivery Lead (including AR monitoring, collections, dispute management, bad debt provision calculation and AR write-off). The role holder will own the identification and implementation of Continuous Improvement in the operational processes and performance. This will include monitoring and optimisation of activities currently performed, review and approval of all relevant Standard Operating Procedures (SOPs), mentoring and training GBS team members, and identification and migration of further activities as appropriate.
- Devise and manage operation of the Credit Management and Collections Strategy.
- Working with Collections Team Leads and Finance Operation Controller/Business Partner to set up and monitor monthly collections targets in line with a standard framework.
- Operation and maintenance of Global Credit Management timetable of activities to ensure third party credit provider database and reports are accurate/up to date.
- Minimise DSO, Aging and write off of debt.
- Liaise with management in other functions (Sales, Customer Service, Order management) to improve the end to end process and unblock / resolve long running disputes and identify their root causes.
- Manage customer credit limits in accordance with the Business Unit Strategy, ensuring sign off in alignment with Delegated Authority Matrix (DAM). Proactively monitor customer credit limit headroom to minimise blocked orders.
- Monitor and agree Credit Notes (above thresholds) and ensure approval in line with the DAM.
- Set the Business Unit rules and monitor compliance for the approval or Order Releases in accordance with the S&N Delegation of Authority Matrix. Embed rules within the system workflows, if not possible, design a compliant and efficient manual workflow approval process.
- Ensure appropriate governance structures are in place for disputed customer balances which lead to alternative payment arrangements (e.g. Payment plans), transfer of aged debt into the legal process, write-offs of debt.
- Ensure appropriate reporting is in place for teams to proactively monitor credit worthiness (AR ageing, credit limit headroom) and determine actions where there are changes in status that may impact DSO.
- Review and approve SOPs.
- Mentor and train Credit & Collections staff on market specifics and the localised collections strategy.
- Creating procedures and policies that ensure timely payments while maintaining a high level of customer retention.
- Reconciling complex accounts that have been escalated from the AR team.
- Sustain compliance with the MAPs & SOx Credit Management Controls, ensuring that credit and collection policies and procedures are followed within your team.
Licenses / certifications
- Relevant professional qualification / qualified accountant
- A minimum of 8 years’ experience in Credit Management and Collections.
- Demonstrates experience in analysing financial data, drawing sound conclusions and developing proposals/solutions.
- Must have strong credit control experience.
- Must be able to demonstrate past track record of successful implementation and execution of an AR Collection Strategy.
- Must have experience working with cross functional senior stakeholders and be able to influence and make an impact on decision making from off-shore location.
- Must be able to talk English and Danish.
Experience nice to have
- Collection experience in the medical supply sector (public / private customers).
- Experience of SAP environment is desirable.
- Working knowledge of SOx control framework.
For this position we offer
- private health care | multisport card | life insurance
- subsidies for trainings | postgraduate studies
- annual bonus | sharesave plan | going extra miles program
- subsidized meals and fruits | integration parties
- possibility of working remotely | flexible working hours
- possibility of growth in the life sciences start-up company
- caring, collaborative and courageous business environment
- relaxation zones in the modern workplace
About Smith & Nephew
Smith & Nephew is a global advanced medical technology business. We support healthcare professionals in more than 100 countries to improve the quality of life for their patients. Since 1856, when our founder T.J. Smith developed a new method for refining cod liver oil, and in World War One when his nephew led the supply of wound care products, to the present day, Smith & Nephew continues to pioneer health solutions.
Through our market leadership positions in Sports Medicine, Trauma, Orthopaedic Reconstruction and Advanced Wound Management, our 16,000 employees continue to improve outcomes and expand access, constantly striving to create value for healthcare professionals, patients, payers and shareholders
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